Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Rise Advisors LLC

Rise Advisors LLC raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 369.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 183 shares of the transportation company’s stock after buying an additional 144 shares during the period. Rise Advisors LLC’s holdings in Old Dominion Freight Line were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ODFL. Price T Rowe Associates Inc. MD increased its stake in shares of Old Dominion Freight Line by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after acquiring an additional 81,122 shares during the period. US Bancorp DE increased its position in shares of Old Dominion Freight Line by 1.0% during the 4th quarter. US Bancorp DE now owns 18,134 shares of the transportation company’s stock valued at $7,351,000 after purchasing an additional 182 shares during the period. Dai ichi Life Insurance Company Ltd raised its stake in shares of Old Dominion Freight Line by 67.5% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 45,962 shares of the transportation company’s stock worth $18,630,000 after buying an additional 18,517 shares in the last quarter. Parnassus Investments LLC raised its stake in shares of Old Dominion Freight Line by 42.4% in the 4th quarter. Parnassus Investments LLC now owns 339,520 shares of the transportation company’s stock worth $137,618,000 after buying an additional 101,079 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Old Dominion Freight Line by 8.6% during the fourth quarter. Wells Fargo & Company MN now owns 149,092 shares of the transportation company’s stock valued at $60,431,000 after buying an additional 11,820 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target on the stock in a research report on Wednesday, May 8th. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Susquehanna reduced their target price on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, June 12th. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, Bank of America cut their price objective on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $204.97.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $174.65 on Friday. The company has a market capitalization of $37.95 billion, a PE ratio of 30.75, a PEG ratio of 2.25 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The company’s 50 day moving average price is $183.91 and its 200 day moving average price is $200.67. Old Dominion Freight Line, Inc. has a 52 week low of $158.60 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.98 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.